If you banked with SunTrust in Georgia years ago and got hit with overdraft fees on debit or ATM transactions, there may be a check with your name on it. A $240 million settlement is paying eligible Georgia account holders between $5 and $1,000, and the striking part is that you do not have to prove a loss or dig up old statements. But the filing window closes September 14, 2026, and an unfiled claim is money that simply goes back to the pool.
What the lawsuit was about
SunTrust Bank, which is now part of Truist, agreed to pay up to $240 million to settle claims that certain overdraft fees it charged on ATM and debit-card transactions ran afoul of Georgia’s usury law, which limits the interest and charges a lender can impose. The bank denies wrongdoing, as defendants typically do in these deals, but agreed to the payout to end the case. According to the official court-approved settlement website, roughly 464,000 account holders were notified that they may be eligible. The core allegation is one many customers will recognize: an overdraft fee that dwarfed the small transaction that triggered it, functioning less like a service charge and more like a very expensive short-term loan.
This particular settlement is limited to Georgia, because it turns on Georgia’s specific usury statute. That is why residency and the state where the account was held are central to who gets paid.
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Who is eligible, and for how much
The settlement class is narrow and specific. It covers Georgia citizens who had a SunTrust account that was not closed before June 1, 2010, and who paid an overdraft fee on an ATM or debit-card transaction of $500 or less between July 12, 2006 and April 15, 2014, without receiving a refund of that fee. If that describes you, your payment falls somewhere between $5 and $1,000, based on how much you paid in qualifying fees. As CNBC Select notes, the final amount for each person also depends on how many valid claims are filed, since the fund is divided among claimants. No documentation of a loss is required, which removes the usual barrier that keeps people from bothering with settlement claims.
How to file before the deadline
Claim forms began going out to eligible customers in mid-July, and each notice carries a unique ID and PIN. To file, go to the official settlement site, enter that ID and PIN, and submit the form online, or mail a paper claim so it is postmarked by September 14, 2026. If you think you qualify but never received a notice, or you tossed it, the settlement administrator can usually help you confirm eligibility and recover your ID, so it is worth contacting them rather than assuming you were left out. Payments are expected to be distributed after the settlement is finalized, generally later in 2026, so filing now and waiting is the normal course.
Stop paying these fees going forward
A settlement check closes the book on old fees, but the cheaper win is making sure you never pay another one you did not agree to. Under federal Regulation E, a bank cannot charge you an overdraft fee on an everyday debit-card purchase or ATM withdrawal unless you specifically opted in to that coverage. If you never opted in, or you revoke it, the transaction is simply declined at no cost instead of triggering a fee that often runs about $35 on a purchase of a few dollars. The Consumer Financial Protection Bureau explains the opt-in rule and your rights in plain terms at its overdraft guide. Claiming your piece of the SunTrust fund is worth the few minutes it takes, and calling your bank to turn off debit overdraft coverage is the move that keeps the next fee from ever landing.
If you moved, changed names, or closed the account
A lot of eligible people assume they are out of luck because their SunTrust days are long behind them, but the settlement looks back to accounts and fees from years ago, so a closed account does not disqualify you. What matters is that you were a Georgia citizen who paid a qualifying overdraft fee in the covered window and did not get it refunded. If you have since moved, married and changed your name, or switched banks entirely, you can still be in the class, and the settlement administrator can help match you to your record if your mailed notice never reached you. That is why it is worth contacting the administrator directly rather than assuming silence means ineligibility, especially if you remember being hit with these fees back then. The one thing you cannot do is wait, because a claim must be submitted online or postmarked by September 14, 2026, and after that date the unclaimed money is redistributed among those who did file. A few minutes now is what stands between an eligible former customer and a payment of up to $1,000.
This article was produced with AI assistance and reviewed by a human editor. Figures are linked to their primary sources; where a claim could not be verified from the public record, we say so.
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